It was an interesting Christmas and, although late, for cryptocurrencies. An example of this includes OKEx, the cryptocurrency trading platform based in Hong Kong.
The company has made public that Ethereum's (ETH) perpetual trades will be readily available on its platform starting December 26 (Boxing Day).
This sequence of announcements was made by OKEx the same day. These perpetual exchangesin more simplistic terms, to serve as a form of derivatives and virtual products that can and are resolved with Ethereum.
Unlike the currently existing futures contracts offered by the platform, which mainly focus on delivery, funding, market price and daily settlement costs, Perpetual swaps will operate differently. For beginners, the daily settlements will take place on a different basis, this last one will take place every twelve hours, between 3:00 and 12:00.
Some of the unique attributes that these perpetual exchanges allow it to be much stronger than futures. Allow up to 40 times to leverage for buyers, with the accompanying of equality in weight components within the fiat or accompanying cryptography. This also includes exchange pairs from other cryptographic exchanges like GDAX, Gemini, Bitstamp among a number of others.
Along with the inclusion of its ETH swap, the Hong Kong-based exchange alluded to its desire to launch further perpetual exchange products for other cryptocurrencies such as Litecoin, Ethereum Classic, Ripple (XRP), Bitcoin Cash and BSV in the near future. .
While the cryptocurrency market has been in a state of withdrawal from an initial rebound, slipping down during this week. In particular, Ethereum saw a decline of 6.8 percent during the day, falling to $ 117. While this is bad news for the short sellers that have bought at a high level, it remains the third largest crypt, with a total market capitalization of over 12 billion dollars.